A purse was sold for ₹99 with a profit of 10%. If it was sold for ₹72, then what would be the percentage of profit or loss?

Explanation

Given: Selling price = Rs. 99 Profit = 10% Concept used: Cost price × (100 + profit)% = Selling price Loss % = (Loss/Cost price) × 100 Calculation: According to the question, Cost price × 110% = 99 ⇒ Cost price = 99 × 100/110 ⇒ Cost price = 90 Now, Loss = 90 - 72 ⇒ 18 Loss % = (18/90) × 100 ⇒ 20% ∴ The percentage of loss is 20%.